Real Estate

MOELIS TAKES TAYLOR SQUARE WITH KINSELAS

Posted on December 9th, 2020 by Clyde Mooney
Moelis Australia has announced another big-ticket acquisition in Kinselas Hotel Darlinghurst – unlocking plans to create a consolidated hospitality precinct at Sydney’s iconic Taylor Square. Moelis Australia Limited (MOE:ASX) has exchanged contracts with the Kospetas family to buy Kinselas for

REDCAPE TAKE TWO MORE AS DELAWARE BOWS OUT

Posted on December 9th, 2020 by Clyde Mooney
ASX-listed hotel giant Redcape has announced acquisition of both the Shafston Hotel at Kangaroo Point and Aspley Hotel in Aspley from Delaware North for $27.5 million. Delaware North is a US hospitality giant founded in 1915 that operates hundreds of

SOUTHERN SUNSHINE ON BOBBIE PEELS

Posted on December 9th, 2020 by Clyde Mooney
Victorians are making hay in the sunshine of eased restrictions as opportunities emerge and the countdown to Christmas begins in earnest. This week brought the highly anticipated move to one patron per two square metres and no cap on numbers,

IRIS NABS BIGGEST BUY NARWEE HOTEL

Posted on December 7th, 2020 by Clyde Mooney
Iris has executed the biggest sale of the year in the final weeks of 2020, taking the Ryan family’s long-held Narwee Hotel in Sydney’s south. The Narwee Hotel is a multi-storey suburban local on a big 3,370sqm block immediately opposite

BAROOGA SALE BODES REGIONAL APPETITE

Posted on December 7th, 2020 by Clyde Mooney
The Barooga Hotel in the popular holiday resort town of Barooga has been sold to the Ratcliffs, continuing the market strength for quality regional operations. Stephen and Elizabeth Ratcliff are the proud new owners of the sole hotel in Barooga,

COVID RENO DEPRECIATION CLAIMS LOST

Posted on December 4th, 2020 by Clyde Mooney
Amid a wave of rapidly executed renovations in response to pandemic conditions, many hotel owners are missing out on claiming their available depreciation deductions, according to an industry specialist. Hoteliers and commercial property owners most commonly underclaim on depreciation because

FOUR IN HAND WORTH THE PRICE FOR PARRAS

Posted on November 30th, 2020 by Clyde Mooney
Paddington’s famed and once-hatted Four in Hand has been sold again, for $8.25 million, this time to well-known hotelier Colin M Parras. Previously the domain of celebrity chef Colin Fassnidge, under the ownership of Joe Saleh, the pub acclaimed for

KELLY & CO HIT PAYDIRT IN THE HUNTER

Posted on November 27th, 2020 by Clyde Mooney
Ned Kelly and friends have struck again, swooping on the re-stapled Criterion Hotel in the wild Weston growth corridor of the Hunter Valley. The freehold has been owned by Sydney-based Peter Calligeros, owner-operator of Surry Hills’ Trinity Bar and both

IRIS SWOOPS ON IBIS IN $180m DEAL

Posted on November 27th, 2020 by Clyde Mooney
Sam Arnaout’s Iris Capital has pounced on a portfolio of 17 Ibis hotels from Accor Invest in a deal worth $180 million, making it the biggest hotel transaction of the year. The massive deal is for 17 freehold hotels, amounting

LAMBERT LEAPS INTO THE OLYMPIC

Posted on November 27th, 2020 by Clyde Mooney
The stoic Olympic Hotel in Sydney’s Paddington has been sold to former Newcastle publican Wayne Lambert, with plans for glory. Dominating the corner of Regent Street and bustling Moore Park Road, the three-storey Georgian pub occupies a 533sqm lot, offering